Coca-Cola Hellenic Bottling Company reports robust growth.
- The company’s organic sales jumped 13.9% in the third quarter.
- Sales boost led by key categories: sparkling, energy, coffee.
- New flavors and partnerships fuel consumer interest.
- Forecast for 2024 updated due to strong performance.
Coca-Cola Hellenic Bottling Company (HBC) has witnessed a significant surge in its organic sales, rising by 13.9% for the third quarter. This growth can be attributed to an increase in volume by 4%, driven predominantly by the company’s strategic focus on priority categories. The sparkling drinks sector experienced a rise of 3.9%, while the energy drinks category surged by a remarkable 28%. Coffee, too, saw an impressive growth of 35.6%, demonstrating the company’s successful penetration into diverse beverage markets.
Further fueling this growth was the company’s investment in its beverage portfolio, which included the launch of innovative new flavors and strategic partnerships with popular movie franchises. These initiatives have effectively attracted a larger consumer base. Notable collaborations with movie franchises like Fanta Beetlejuice and Marvel activations have been particularly successful in engaging consumers.
Looking ahead, Coca-Cola HBC has consequently revised its financial expectations for the upcoming year. The company now anticipates organic growth to fall between 11% and 13%, an increase from its earlier forecast of 8% to 12%. Expected growth in organic EBIT has also been adjusted, with new estimates ranging from 10% to 12%, reflecting greater confidence based on their robust performance.
Zoran Bogdanovic, the chief executive of Coca-Cola HBC, expressed satisfaction with the company’s outstanding results, highlighting the momentum in revenue and volume growth. He emphasized the effectiveness of the company’s ’24/7 portfolio’ in achieving quality growth across various market conditions. Bogdanovic remarked on the macroeconomic and geopolitical challenges, yet maintained a positive outlook based on the company’s performance in the first nine months. His statement underscores the company’s commitment to continuing its winning streak in the market.
Coca-Cola HBC’s third-quarter performance and strategic initiatives have led to an optimistic revision of its full-year forecast, signaling strong market confidence.
